ACQUISITIONS AND DISPOSITIONS |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |
| ACQUISITIONS AND DISPOSITIONS | ACQUISITIONS AND DISPOSITIONS: On January 27, 2025, the Company completed the acquisition of Apex Energy II, LLC (the "Apex Transaction") for total cash consideration of approximately $517,599, net of $1,588 of cash received, and subject to certain post-closing adjustments. The Apex Transaction was classified as an asset acquisition under GAAP as substantially all the fair value of the acquired assets is concentrated in a group of similar identifiable assets, which are primarily oil and gas properties, wells, and well-related equipment. Therefore, the properties were recorded at the total consideration paid, including purchase price adjustments and capitalized transaction costs. The purchase price was allocated to the assets and liabilities acquired based on their estimated fair value as of the acquisition date. The Apex Transaction expands CNX's existing Shale undeveloped leasehold in the central Pennsylvania region and provides an existing infrastructure footprint that can be leveraged for future development. In connection with the Apex Transaction, CNX maintained an escrow account pursuant to the purchase agreement to settle certain post‑closing adjustments, which was to be released on the one‑year anniversary of closing. During the six months ended June 30, 2026, approximately $10,255 previously classified as restricted cash was reflected in Apex Acquisitions (Net of Cash Acquired) in the Company’s Consolidated Statements of Cash Flows. During the six months ended June 30, 2026, CNX made the first of three annual payments of $16,500 pursuant to an agreement that provides the Company with the right to acquire Utica Shale oil and gas interests underlying the legacy Apex Energy footprint, which was reflected in capital expenditures in the Company's Consolidated Statements of Cash Flows. During the six months ended June 30, 2025, CNX acquired various rights-of-way, surface acreage and other oil and gas royalty interests from a third party for total cash consideration of $24,250 and subject to certain post-closing adjustments. Additionally, Loss (Gain) on Asset Sales and Abandonments, net in the Consolidated Statements of Income for the three and six months ended June 30, 2026 and 2025 and Proceeds from Asset Sales in the Consolidated Statements of Cash Flows for the six months ended June 30, 2026 and 2025 include the sale of various non-core assets (rights-of-way, surface acreage and other non-operated oil and gas interests and assets), none of which were individually material.
|